Instacart Q2 revenue rises, slightly beats estimates

Maplebear

06/08/2026 21:09

Overview
US grocery technology firm's Q2 revenue rose 14%, slightly beating analyst expectations
Adjusted EPS for Q2 missed analyst expectations
Company repurchased $325 mln in shares during the quarter

Outlook
Instacart sees Q3 2026 GTV between $10.3 bln and $10.55 bln
Company expects Q3 2026 Adjusted EBITDA of $320 mln to $340 mln
Instacart anticipates annual Adjusted EBITDA growth to moderate as it reinvests in growth

Result Drivers
CUSTOMER GROWTH - Co said it attracted and engaged more customers across marketplace and enterprise platform, activating net-new customers at fastest rates since 2022
ADVERTISING REVENUE - Advertising and other revenue rose 16% year-over-year, outpacing GTV growth, per CFO Emily Reuter
TECHNOLOGY EXPANSION - Co expanded AI-powered offerings and enterprise ecommerce solutions with new partners and features

Company press release: ID:nPn5HMLwTa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Slight Beat*
$1.04 bln
$1.03 bln (26 Analysts)
Q2 EPS
Miss
$0.45
$0.54 (23 Analysts)
Q2 Net Income
 
$111 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 13 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for Maplebear Inc. is $51.00, about 12.5% above its August 5 closing price of $45.35
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 16 three months ago

Reuters Recommended Reads
Aug 5 - DoorDash Q2 revenue jumps, EBITDA tops estimates on order growth, membership strength
Aug 3 - Ibotta Q2 revenue beats estimates on redemption growth
Aug 6 - India's Swiggy targets $1 billion core earnings by FY31 as it doubles down on Instamart

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)